Voltas declines on profit taking

Voltas lost 1.06% to Rs 233.10 at 15:10 IST on BSE, with the stock sliding on profit booking after recent rally triggered by the company reporting strong Q1 earnings.

Meanwhile, the S&P BSE Sensex was up 49.54 points or 0.19% at 26,440.50.

On BSE, so far 3.96 lakh shares were traded in the counter as against average daily volume of 3.94 lakh shares in the past one quarter.

The stock hit a high of Rs 239.25 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 229.70 so far during the day. The stock had hit a 52-week low of Rs 62.70 on 4 September 2013.

The stock had outperformed the market over the past one month till 18 August 2014, advancing 13.46% compared with Sensex's 2.92%. The scrip had also outperformed the market in past one quarter, surging 31.8% as against Sensex's 9.41% rise.

The mid-cap company has equity capital of Rs 33.09 crore. Face value per share is Re 1.

Shares of Voltas had rallied 15.66% in two trading sessions to settle at Rs 235.60 on Monday, 18 August 2014, from a recent low of Rs 203.70 on 13 August 2014, after the company after market hours on 13 August 2014, reported strong Q1 earnings.

Voltas' consolidated net profit jumped 165.85% to Rs 109 crore on 9.36% growth in sales to Rs 1752 crore in Q1 June 2014 over Q1 June 2013. Operating profit (profit before exceptional items & tax) jumped 143.33% to Rs 146 crore in Q1 June 2014 over Q1 June 2013.

Voltas is India's largest air conditioning company, and one of the world's premier engineering solutions providers and project specialists. It offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, textile machinery, mining and construction equipment, water management & treatment, cold chain solutions, building management systems, and indoor air quality.

Powered by Capital Market - Live News